Premier Foods plc (PFD.L), a British food manufacturer, Thursday reported profit before taxation of 151.4 million pounds for the full year, higher than 112.4 million pounds in the previous year, primarily helped by growth in revenue.
Excluding one-time items, adjusted profit before taxation rose 15.1 percent to 157.9 million pounds from 137.2 million pounds a year ago.
Net profit increased to 112.5 million pounds or 12.7 pence per share from 91.6 million pounds or 10.4 pence per share last year.
Adjusted earnings per share were 13.7 pence, up 6.4 percent from 12.9 pence last year.
Revenue for the year grew 13 percent to 1.138 billion pounds from 1.006 billion pounds in the previous year. Headline revenue was 1.123 billion pounds, 15.1 percent up from 975.6 million pounds last year.
Premier Foods said its branded revenue increased 13.5 percent for the year, including strong branded volume growth in the fourth quarter. Further, full-Year market share increased 29bps.
The company's directors have proposed a final dividend of 1.728 pence per share, payable on July 26 to shareholders on the register on June 28.
Looking ahead, Premier Foods said, "The Group expects a return to volume driven revenue growth this year, as demonstrated in quarter four, partially offset by a lower price per unit. Further progress in FY24/25 is expected to be delivered across all the Group's strategic pillars, through the application of the Group's proven branded growth model, with expectations for the full year on track."
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